Dream11 CEO says 95% of revenues wiped out by new online gaming law

Dream11 CEO Harsh Jain revealed that the recent enactment of the Promotion and Regulation of Online Gaming Bill, 2025, has led to a substantial decline in the company's revenue.

"95% of Dream11's revenues have disappeared overnight, and 100% of our profits," Jain stated. The new legislation prohibits real-money gaming, which constituted the majority of Dream11's business model.

As a result, Dream11 has withdrawn its title sponsorship of the Indian cricket team, a contract valued at around ₹358 crore for the 2023–2026 period.

Jain emphasized that the company intends to retain its workforce and explore new revenue models rather than lay off employees.

Despite the financial setback, Jain emphasized that the company is committed to adapting to the new regulatory environment.

"We are not interested in doing any layoffs. All the talent here is safe," he assured, indicating that Dream11 intends to retain its workforce and explore alternative business models.

The company has also informed the Board of Control for Cricket in India (BCCI) about its inability to continue with the title sponsorship of the Indian cricket team, a contract valued at USD 44 million (approximately ₹358 crore) for the 2023–2026 period. This move reflects the significant impact of the new law on Dream11's financial commitments and operations.

Jain further noted that while the bill allows for social gaming and subscription-based services, the ban on real-money gaming has necessitated a strategic shift for Dream11.

The company is now focusing on diversifying its offerings and exploring new avenues to sustain its business in the evolving regulatory landscape.

The company had previously grown rapidly under the real-money gaming format, sponsoring major cricket events and expanding its user base across India.